VA Mortgage Calculator - Veteran Home Loan
Calculate VA loan monthly payments with zero down payment, VA funding fee, and no PMI. Estimate total cost for eligible veterans, active duty, and
Formula
Payment = Loan × [r(1+r)^n] / [(1+r)^n - 1]
Calculate VA loan payments including funding fee, taxes, and insurance. No PMI required.
Worked Examples
Example 1: First-Time VA Buyer
Problem:$400,000 home, 0% down, 6% rate, 30 years, no disability.
Solution:Loan amount: $400,000\nFunding fee (2.15%): $8,600\nTotal financed: $408,600\n\nMonthly P&I: $2,450\nTax/Insurance: ~$400\nTotal: ~$2,850/month\n\nNo PMI savings vs conventional!
Result:$2,850/mo, no PMI
Example 2: Disabled Veteran
Problem:$350,000 home, veteran with 10%+ disability rating.
Solution:Funding fee: $0 (waived)\nLoan amount: $350,000\n\nSaves $7,525 upfront (2.15% fee)\nPlus no PMI\n\nSignificant savings for disabled vets!
Result:$7,525 saved on funding fee
Example 3: VA vs Conventional
Problem:Compare $300,000 purchase, 5% down.
Solution:VA Loan:\n- No PMI: $0/month\n- Funding fee: $4,275 (1.5%)\n\nConventional:\n- PMI: ~$125/month\n- Over 30 years: $45,000\n\nVA saves ~$40,000+ over loan life.
Result:VA saves $40,000+
Frequently Asked Questions
What is a VA loan?
A mortgage guaranteed by the Department of Veterans Affairs for eligible service members, veterans, and surviving spouses. Benefits include no down payment, no PMI, and competitive rates.
Who is eligible for a VA loan?
Active duty (90+ days), veterans (90+ days wartime, 181+ peacetime), National Guard/Reserve (6+ years), and surviving spouses of those who died in service or from service-connected disability.
Is there a VA loan limit?
No limit for veterans with full entitlement. With partial entitlement, county loan limits apply. You can have multiple VA loans if you have remaining entitlement.
What are VA loan interest rates?
Typically 0.25-0.5% lower than conventional rates. VA guaranty reduces lender risk, enabling better rates. Shop multiple lenders for best rate.